BMW 3 Series E46 M3

For a lot of people, the E46 is the M3 that every other generation has to answer to. Built from 2000 to 2006, it took what was good about the E36 and sharpened all of it. The centerpiece is the S54, a 3.2-liter naturally aspirated straight-six that spins to 8,000+ rpm and won International Engine of the Year so often it got slightly embarrassing. No turbo, no electric assist, just a hungry six driving the rear wheels through a manual (or the wonky SMG).

This time it came only as a coupe or convertible, with no sedan in the lineup. The one most people daydream about is the CSL, a stripped, track-minded special that was the first M car to wear a carbon fiber roof out in the open. There was also the unhinged V8-powered M3 GTR, a homologation unicorn most of us only ever "drove" as the hero car in Need for Speed: Most Wanted.

The E46 sits right at the close of the analog era, the last M3 with a naturally aspirated engine and nothing electronic standing between you and trouble. Prices reflect that. Track down a clean one with real service history, ask pointed questions about the rod bearings and rear subframe, and you have a car that has topped people's M3 lists for twenty years running.